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MTB, Compass Plus introduce UnionPay to Bangladesh

Wednesday 19 December 2018 | 12:12 PM CET

Compass Plus has announced that Mutual Trust Bank (MTB) has become the first bank in Bangladesh to issue UnionPay International cards.

As part of the agreement, the bank becomes a Principal Member of the payment network, and is fully certified to issue and accept UPI cards.

MTB received onsite support from ITCL - Compass Plus’ distributor in Bangladesh - during the issuing and acquiring certification process. The project, launched in November 2018, has already seen the bank offer the following UPI products to its customers: debit cards, virtual debit cards, and a tokenized digital wallet for payments via QR codes.

In addition, MTB plans to issue contactless debit and credit cards, offer UnionPay’s P2P service ‘Money Express’, as well as a number of additional online services. The bank will also accept UnionPay cards, issued worldwide, across its ATM and POS terminal networks.

The certification is another project between MTB and Compass Plus, which worked together to launch the bank’s in-house processing centre based on Compass Plus’ TranzWare products.

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